The increasing prevalence of cardiovascular diseases is expected to drive the growth of the global cardiac biomarkers market. Out of the 17 million premature deaths due to noncommunicable diseases in 2015, 82% were in low- and middle-income countries, and 37% were caused by cardiovascular diseases.
According to MRFR analysis, Cardiac Biomarkers Market is expected to register a CAGR of 16.36% during the forecast period of 2019 to 2025 and accounted for USD 1446.11 Million in 2018.
Cardiac Biomarkers Market Segmentation
The Global Cardiac Biomarkers Market has been segmented based on Type, Location of Testing, and Application.
The market, based on type, has been divided into myocardial muscle creatine kinase (CK-MB), troponins (T and I), myoglobin, brain natriuretic peptide (BNP) or NT-proBNP and ischemia modified albumin (IMA). Troponins (T and I) is the maximum revenue generating segment due to its high cardiac specificity. Among patients with acute coronary syndromes, troponins level has been reported to provide prognostic information useful for the early identification of patients with an elevated risk of unstable angina progressing to AMI and death.
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The global cardiac biomarkers market has been segmented, on the basis of the location of testing, into point of care testing and laboratory testing. The point of care testing segment is expected to witness the fastest growth due to its increasing popularity in cardiovascular disease diagnostics.
The market, based on application, has been divided into acute coronary syndrome, myocardial infarction, congestive heart failure, atherosclerosis, and others. The acute coronary syndrome held the largest market share in 2018. It is a medical emergency that requires prompt diagnosis and care.
Regional Analysis
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas are expected to be the largest market owing to the high spending by the pharmaceutical industry.
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The cardiac biomarkers market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European cardiac biomarkers market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
Competitive Landscape:
Abbott Laboratories (US), ACS Biomarker (The Netherlands), bioMérieux SA (France), Becton, Dickinson and Company (US), Bio-Rad Laboratories, Inc. (US), Johnson and Johnson (US), Danaher Corporation (US), Quidel Corporation (US), Siemens AG (Germany), Hoffmann-La Roche Ltd (Switzerland), Novartis (Switzerland), Randox Laboratories Limited (UK), Thermo Fisher Scientific, Inc. (US), and Trivitron Healthcare Pvt. Ltd. (India) are some of the major influential companies that can impact the outcome of the cardiac biomarkers market.
Planning an expansion of client-base and portfolio includes strategic means like mergers, acquisitions, innovations, and collaboration, things that most of these companies are using to establish their positions. These companies are also investing in research and development to create scope for better innovation, improved marketing strategies, and others.
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